Aldeyra Therapeutics Stock Forecast
Red day on Friday for Aldeyra Therapeutics
(Updated on May 03, 2024)
The Aldeyra Therapeutics stock price fell by -1.19% on the last day (Friday, 3rd May 2024) from $4.21 to $4.16. During the last trading day the stock fluctuated 5.28% from a day low at $4.08 to a day high of $4.29. The price has risen in 5 of the last 10 days and is up by 7.77% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -18 thousand shares and in total, 318 thousand shares were bought and sold for approximately $1.32 million.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 20.68% during the next 3 months and, with a 90% probability hold a price between $3.90 and $6.03 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
ALDX Signals & Forecast
The Aldeyra Therapeutics stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $4.06 and $3.76. A breakdown below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, April 05, 2024, and so far it has fallen -11.86%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Aldeyra Therapeutics stock
Aldeyra Therapeutics finds support from accumulated volume at $4.15 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.215 between high and low, or 5.28%. For the last week the stock has had daily average volatility of 5.59%.
Our recommended stop-loss: $3.99 (-4.00%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 20 days ago.)
Trading Expectations (ALDX) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Aldeyra Therapeutics to open at $4.18, and during the day (based on 14 day Average True Range), to move between $3.91 and $4.41, which gives a possible trading interval of +/-$0.252 (+/-6.06%) up or down from last closing price. If Aldeyra Therapeutics takes out the full calculated possible swing range there will be an estimated 12.13% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $4.15 (0.24%) than the resistance at $4.22 (1.44%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Aldeyra Therapeutics stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Aldeyra Therapeutics stock to perform well in the short-term.
Current score: 1.200 Buy Candidate Unchanged
Predicted Opening Price for Aldeyra Therapeutics of Monday, May 6, 2024
Fair opening price May 6, 2024 | Current price |
---|---|
$4.18 ( 0.361%) | $4.16 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ALDX
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 4.39 | 5.53 % | |
R2 | 4.31 | 3.55 % | ||
R1 | 4.26 | 2.33 % | ||
Current price: | 4.16 | |||
Support | S1 | 4.09 | -1.61 % | |
S2 | 4.04 | -2.83 % | ||
S3 | 3.96 | -4.81 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 4.72 | 13.46 % | |
R2 | 4.69 | 12.62 % | ||
R1 | 4.22 | 1.44 % | ||
Current price | 4.16 | |||
Support | S1 | 4.15 | -0.240% | |
S2 | 3.94 | -5.29% | ||
S3 | 3.93 | -5.53% |
FAQ
Click here for our free guide on how to buy Aldeyra Therapeutics Stock.